GalCap Europe, on behalf of a German pension fund, acquired Rumbach Center in Budapest from Al Habtoor Group. The price of the deal, brokered by Colliers Hungary, was not disclosed. The property, offering approximately 7,600 sqm of leasable space as well as 72 underground parking spots, is currently leased to the Budapest Public Transport Authority BKĆ/BKK. āClosing this acquisition in the current environment shows that there are great opportunities even during times of uncertainty. Identifying these and executing them promptly needs market expertise and the right people on the ground. Covid-19 has further reinforced our approach,ā said Manfred Wiltschnigg, managing partner of GalCap Europe.
Photo: Al Habtoor
